TOPEKA, Kan., October 30, 2019 (GLOBE NEWSWIRE) – SE2, an industry leader in the provision of technology-driven third-party administration (TPA) services, today announced that it has entered into a multi-year agreement with several insurance subsidiaries, the Nassau Financial Group ( Nassau) to convert and manage existing policies across multiple legacy systems on SE2’s digital SE2 Aurum® multi-tenant platform. The strategic partnership will also enable Nassau to deliver a superior customer experience and reduce unit costs over time for a wide range of products. Nassau will retain its industry leading in-house call center.
SE2 was formed in 2005 from a leading insurance company to specialize in third party administration services for the US life and annuity insurance industries. SE2 currently manages over two million policies for more than 25 life and annuities and has a unique actuarial conversion method that has grown its market. SE2 will ultimately manage the majority of Nassau’s life and retirement products.
“We have invested heavily in building the industry-leading digital platform and this is recognized and appreciated by our customers who are able to improve their customer experience while reducing time-to-market for new products,” said Gautam Thakkar. Chief Executive Officer of SE2. “This deal marks the back of several significant wins over the past few months and is testament to our extensive expertise and track record in the US third-party life and annuity market.”
“We look forward to partnering with SE2 as we leverage their innovative platform to enhance our world-class customer experience,” said Phil Gass, chairman and chief executive officer of Nassau. “We expect that the SE2 partnership will allow us to simplify our administration, optimize costs, improve customer results and bring new products to market more efficiently.”
SE2 Aurum® is the industry’s first end-to-end ecosystem for multi-tenant, open architecture digital insurance platforms designed by insurers for insurers. SE2 Aurum® offers insurance carriers a comprehensive, engaging, fully digital environment that enables them to quickly bring new products to market, achieve cost savings and acquire new customers through all sales channels. The highly configurable platform offers the flexibility to integrate seamlessly with external data sources and an extensive partner ecosystem.
SE2, an Eldridge Industries company, is a leading provider of technology-driven third-party administration services to the US life and annuity industries. SE2 has a proven track record of delivering platform-based transformations to the life and annuity industries. SE2 uniquely combines the maturity and unparalleled industry knowledge of its over 125 years of experience in the life insurance industry with its digital end-to-end platform to enable the rapid introduction of new and innovative products through existing and digital channels. SE2 currently manages nearly 2 million active policies on behalf of its 25+ customers. SE2 has over $ 100 billion in assets under management and manages more than 200,000 new business applications annually. Please visit SE2 at www.SE2.com to learn more.
About the Nassau Financial Group
Nassau’s mission is to build a franchise business along the entire insurance value chain. Nassau Financial Group, based in Hartford, CT, currently has total assets of approximately $ 22.6 billion and capital of approximately $ 1.3 billion. Our business comprises four segments: insurance, reinsurance, sales and asset management through various subsidiaries. Nassau was founded in 2015 with capital from Golden Gate Capital, a private investment firm with over $ 15 billion in committed capital. More information is available at www.nsre.com.
Contact for SE2:
Kaelin Sanchez, 312-329-3981